TPG Capital has completed a $108.6 million investment in Chinese real estate developer Xinyuan Real Estate Co. Ltd. (NYSE: XIN).

Beijing-based Xinyuan develops large scale residential real estate projects in China.

Private equity firm TPG announced another investment in China in March, leading a take-private deal for ShangPharma Corp. The firm also picked up Envision Pharmaceutical Holdings Inc. in July, which operates a pharmacy benefit management company. The firm also made a June investment in AV Homes Inc., a homebuilder. 

TPG, headquartered in Fort Worth, Texas, invests in the financial services, travel, entertainment, technology, industrial, retail, consumer product, media and health care industries.

Ropes & Gray provided legal counsel to TPG on the deal. 

Real estate